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...Other investment outfits inside Brookfield’s credit group include European credit manager LCM Partners, a stake in music royalty group Primary Wave, and a technology-focused lender called Pinegrove, in which...
...Another 50 cents is collected by the merchant acquirer, or companies such as Block or Stripe that provide the shop’s point-of-sale service system....
...and small banks as merchants gained the ability to steer customers to preferred credit cards....
...Many banks, she reckons “are unable to uniquely identify and systematically aggregate or measure their combined credit and counterparty risk exposures to the private equity sector”....
...Of Tesla’s total quarterly sales of $21.3bn, 82 per cent were indeed “automotive revenues” while the rest were energy and services....
...By September 2023, Weightman began assembling a private credit team, said Corinthia....
...Now the problem is customer complaints about its subprime credit card business, via the Financial Ombudsman Service....
...Full-service banks such as JPMorgan are built for scale — ie getting as many deals through the door as possible — so there’s only so much impact any one individual can make. That’s intentional....
...Several of the bank’s businesses — including credit cards and corporate transaction services — did better than expected in a quarter that many thought would be marred by the upheaval of the restructuring...
...“As a concept, credit-backed gilt repo is really exactly the same as having credit-backed swaps,” said Simeon Willis, chief investment officer at consultancy XPS Pensions....
...DBRS’s report also contains this wonderful description of Sotheby’s Financial Services’ collection strategy if any deadbeat art collectors fall behind on their payments: SFS employs a strategy for collections...
...And there are few hotter fads in finance today than private credit. What artificial intelligence is to tech, private credit is to Wall Street....
...Authority for creating “negative and binary perceptions” of charging higher interest rates for risky credit....
...WBD executives see the move as a chance to expand into new markets for consumers who either do not yet have a streaming service or who are willing to pay more for a rival service....
...What returns to expect from private credit Should M&A return, it could well energise an already frenetic corner of finance: private credit....
...That trend holds more broadly, reports Bloomberg: Blackstone Inc. recently sought a $250 million loan at a rate of around 4.75 percentage points over the US benchmark to finance its planned purchase of...
...Before the recent rise in interest rates, this mostly involved gawking at the erosion of lender protections in bond contracts and having fun with credit default swaps....
...But the French asset manager, controlled by Crédit Agricole, is taking to their turf....
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...In July 2021, the SEC fined UBS Financial Services, now owned by Credit Suisse, $8mn for holding short-term, volatility-linked ETPs for customers longer than designed....
Data suggests they make up 51% of assets and rebalancings can send billions sloshing through markets
...Bond yields have “come down enough from their peak that we see demand [from companies and households] for credit going forward”....
...“A very strong labour market means, all else equal, strong consumer credit,” Barnum said....
...In 2008, Blackstone acquired GSO Capital, a credit manager with $10bn in assets managed. Today, Blackstone has $300bn in credit assets, even as most of the original GSO brass have long departed....
...From Bloomberg overnight: Citi Is in Talks to Start New Private Credit Strategy by Early 2024 Citigroup Inc. is in discussions to start a new direct-lending strategy by early January, the latest in a series...
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